On Monday, Super Micro and Micron Lead S&P 500 AI Stocks

On Monday, the top gainers on the S&P 500 were Super Micro Computer (SMCI), Micron Technology (MU), Constellation Energy (CEG), Dexcom (DXCM) and Moderna (MRNA).

Micron stock experienced a 6.2% increase to 117.04, following a surprise profit and optimistic guidance linked to AI trends. This memory-chip giant is now up 37.25% in 2024 and ranks sixth in the S&P 500 this year. Dexcom stock also saw a rise of 5.2%, reaching 140.10 and breaking through a mini-consolidation within the buy zone of a flat base. The electric utility company, Constellation Energy stock, surged 5.1% up to 187.26, reaching a record high and surpassing a short consolidation after rising on earnings in late February due to the increasing demand for energy in booming data centers.

Super Micro stock saw an impressive increase of 7.2%, reaching 1,042.79 and breaking through its own line as well as the 1,000 mark while continuing its momentum from last week due to its partnership with Nvidia (NVDA) chips and other companies. It has been the top performer in the S&P 500 since it joined the index before opening on March 18 despite experiencing an initial decline of only -9%. Lastly, Moderna stock also rose by 4.7% to reach near a buy point from a cup-with-handle base after being actionable following breaking out of its downtrend earlier in the week with shares that are nearing their value at IPO ($86).

Investors could consider treating $137.93 as an alternate or add-on entry for DXCM stock while keeping an eye on CEG’s impressive performance this year with a whopping increase of around $60%. Moderna’s shares have experienced tremendous growth since their IPO ($86) despite facing challenges such as COVID-19 vaccine production issues that may impact future profits

By Samantha Johnson

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